Like cryptocurrencies,
NFTs have disrupted the world as we know it. Now instead of the Mona Lisa, collectors are clamoring over the works of Beeple, 3LAU, and José Delbo.
But unlike physical works of art, NFTs are treated differently.
How do you store NFTs?
Like cryptocurrencies, you can store NFTs on specialized digital wallets. In fact, some of the best Tezro NFT wallet apps have built-in support for mainstream cryptocurrencies. So that way, you can access both your crypto and non-fungible tokens on a single platform.
But do keep in mind that security is a major issue for digital assets. As cryptocurrencies and NFTs have become extremely popular, hackers and cybercriminals have taken to hacking into NFT/crypto wallets and stealing their contents. Despite the various steps taken by wallet providers, hackers are becoming increasingly sophisticated.
It is because of this that I highly recommend that you make use of both hot and cold wallets. A cold wallet is a hardware-based storage device like a pen drive or hard disk that stores digital assets offline. And this makes it next-to-impossible for a hacker to gain access to your crypto tokens or NFTs.
What are NFTs?
An NFT or non-fungible token is a piece of media that has been tokenized on a blockchain such as the Ethereum network. Besides Ethereum, Solana, WAX, Tezos, and Flow are other popular blockchains for NFTs. But as Ethereum is the most established, it currently remains the network of choice for most.
What is the environmental impact of NFTs?
From a technical standpoint, NFTs do not actually have any impact on the environment. Instead, it is the method in which these assets are produced which have raised a few eyebrows. This is because NFTs require immense quantities of computer processing power to validate transactions. And in turn, this leads to a huge consumption of electric power.
Let’s now take a look at the overall environmental impact that NFT trading has on the environment:
- Higher carbon emissions
- An overall increase in global temperature caused by global warming
- Rising fossil fuel consumption to generate energy for NFT and crypto mining
So naturally, you’re probably asking the question, are there any environmentally friendly NFTs that require less energy. Fortunately, the answer is a resounding yes. The popularity of NFTs has encouraged enthusiasts around the world to switch to greener alternatives. nft